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public information shows that baotou yingsite rare earth magnetic new materials co., ltd. (hereinafter referred to as yingsite) is a high-tech enterprise mainly engaged in the research and development, production and sales of rare earth permanent magnet material application devices. recently, the company updated its prospectus (registration draft) and plans to be listed on the shenzhen stock exchange's growth enterprise market.

image source: instant official website

procurement data in doubt

according to the prospectus (registration draft) of insite, in 2022 and 2023, insite's total purchase amount from dadi xiong (baotou) permanent magnet technology co., ltd. (hereinafter referred to as: dadi xiong baotou company), dadi xiong (ningguo) permanent magnet technology co., ltd. (hereinafter referred to as: dadi xiong ningguo company), and dadi xiong (suzhou) magnet co., ltd. (hereinafter referred to as: dadi xiong suzhou company) was rmb 168.2284 million and rmb 99.1026 million, respectively.

according to dadi xiong's 2022 and 2023 annual reports, dadi xiong baotou company, dadi xiong ningguo company, dadi xiong suzhou company, etc. are all wholly-owned subsidiaries of dadi xiong, a company listed on the science and technology innovation board, and are included in the scope of consolidated financial statements during the reporting period.

in 2022, dadi xiong's sales to its second largest customer and its largest customer were rmb 165.7588 million and rmb 171.1669 million, respectively, which were rmb 2.4696 million and rmb 2.9385 million different from the purchase amounts disclosed by insite.